Jio Platforms IPO: Reliance Group set to overtake Tata Group in market cap race; check India's top 5 -

With the much-anticipated listing of Jio Platforms, the Mukesh Ambani-led Reliance Group is poised to become India's largest conglomerate by combined market capitalisation, surpassing the Tata Group, based on the estimated valuation of Jio Platforms. Jio Platforms would become the 13th listed company in the Reliance Group, which currently has a smaller listed-company count than the Tata Group's 27 companies.

As of Friday, October 16, the Reliance Group had a combined market capitalisation of Rs 18.05 lakh crore, driven primarily by Reliance Industries Ltd (RIL), India's largest company, with a market capitalisation of Rs 16.37 lakh crore. Jio Financial Services contributed another Rs 1.43 lakh crore.

At an assumed market capitalisation of Rs 10.30 lakh crore, Jio Platforms' listing would take the Reliance Group's combined market capitalisation to Rs 28.35 lakh crore. Other listed companies in the group, including Alok Industries, DEN Networks, Hathway Bhawani Cabletel & Datacom, Hathway Cable and Datacom, Just Dial, Network18 Media, GTPL Hathway and SW Solar, make smaller contributions to its overall valuation.

The Tata Group's 27 listed companies had a combined market capitalisation of Rs 25.92 lakh crore. Tata Consultancy Services (Rs 8.91 lakh crore), Titan Company (Rs 3.95 lakh crore), Tata Steel (Rs 2.20 lakh crore), Trent (Rs 1.57 lakh crore), Tata Motors (Rs 1.55 lakh crore), Tata Capital (Rs 1.37 lakh crore), Tata Power (Rs 1.12 lakh crore) and Indian Hotels (Rs 1.10 lakh crore) were among the group's biggest contributors.

The Adani Group ranked third, with a combined market capitalisation of Rs 17.23 lakh crore. Adani Ports (Rs 4.01 lakh crore), Adani Enterprises (Rs 3.63 lakh crore), Adani Power (Rs 3.75 lakh crore), Adani Green Energy (Rs 2.14 lakh crore) and Ambuja Cements (Rs 0.90 lakh crore) were among the group's largest listed companies.

With just four listed companies, the HDFC Group ranked fourth among India's leading conglomerates, with a combined market capitalisation of nearly Rs 13.9 lakh crore. HDFC Bank was the largest contributor, valued at Rs 11.22 lakh crore. HDFC Life Insurance (Rs 1.20 lakh crore), HDFC Asset Management Company (Rs 1.04 lakh crore) and HDB Financial Services (Rs 43,600 crore) accounted for the remainder.

The Aditya Birla Group ranked fifth, with a combined market capitalisation of more than Rs 10.20 lakh crore. Its major contributors included UltraTech Cement (Rs 3.22 lakh crore), Hindalco Industries (Rs 2.05 lakh crore), Grasim Industries (Rs 1.98 lakh crore), Vodafone Idea (Rs 1.36 lakh crore) and Aditya Birla Capital (Rs 1.04 lakh crore). The group also has six other companies listed on Indian stock exchanges.